Tesla and SpaceX founder Elon Musk has launched a new neuroscience company, which aims to develop cranial computers that can upload and process information at lightening speeds — and possibly even treat disorders such as epilepsy and depression.

Sources briefed on the revolutionary plans told the Wall Street Journal that the billionaire had set up the company, dubbed “Neuralink,” in California and chosen to take on a significant leadership role.

Musk reportedly has his sights set on using “neural lace” technology to create brain-computer interfaces — implanting tiny electrodes inside one’s head, which may one day upload and download thoughts.

According to the insiders, he believes the devices — which have so far only existed in science fiction movies — would serve as a layer of artificial intelligence inside the brain, helping humans keep up with society’s technological advancements.

If all goes according to plan, he hopes to one day use the software to help improve memory and enhance cognitive function.

“Over time I think we will probably see a closer merger of biological intelligence and digital intelligence,” Musk explained at an event in Dubai last month. “It’s mostly about the bandwidth, the speed of the connection between your brain and the digital version of yourself, particularly output.”

Max Hodak — who is described as a “member of the founding team” of Neuralink — confirmed the company’s existence on Monday.

Exactly what types of products Musk hopes to create with Neuralink is unclear, but there have been talks of using strategy similar to what he used when developing Tesla and SpaceX, WSJ reports.

Over the years, the 45-year-old has conjured up new ideas for rockets and electric-cars, proven that they can work efficiently, and then rolled them out for public and private use.

The insiders who are familiar with Musk’s new company told the WSJ that the first products to be introduced would likely be advanced brain implants — which would treat intractable disorders like epilepsy and major depression.

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These devices would be similar to current electrode systems that are already used to treat diseases such as Parkinson’s, the sources said.

If Musk manages to get governmental approval, the next step could be performing cosmetic brain surgeries — in the attempt to boost cognitive function.

“Your output level is so low, particularly on a phone, your two thumbs just tapping away,” Musk said last June. “This is ridiculously slow. Our input is much better because we have a high bandwidth visual interface into the brain. Our eyes take in a lot of data.”

While Musk’s company will likely garner lots of support, many fear that the idea may be too risky.

Not only must scientists find a safe way to implant the electrodes, they must also be able to keep them from moving around once inside. There’s also the difficulty of predicting how neurons in the human brain communicate — and convincing people to volunteer for brain surgery.